Property Overview: 274 Bowman Avenue, Winnipeg
Key Characteristics & Appeal
This is a well-situated, one-storey home in the Chalmers neighbourhood, built in 1913. Its primary appeal lies in a combination of generous outdoor space and a smartly updated interior. The 5,000 sqft lot is notably large, placing it in the top 4% of properties on its street and the top 11% within Chalmers, offering significant potential for gardening, expansion, or simply enjoying ample private space. The home itself, at 1,085 sqft of living area, is comfortably above average for both the immediate street and the wider neighbourhood. A key modern convenience is the renovated basement, adding valuable finished space. The property includes a detached garage.
Its value proposition is clear: you are acquiring a larger-than-typical lot in an established area, with the renovation work already started on the basement. The home suits buyers looking for a character property with room to grow outdoors, without the maintenance of a massive house. It would particularly appeal to a first-time buyer or downsizer who prioritizes yard space over a multi-level floor plan, or an investor/renovator who sees the underlying value in the land and the already-completed basement update.
Frequently Asked Questions
1. Is the lot size a major advantage?
Yes. At 5,000 sqft, the lot is significantly larger than most in the immediate area (top 11% in Chalmers). This is a lasting asset that provides more privacy, recreational space, and future potential than is commonly available.
2. What does "renovated basement" typically mean here?
While specifics should be verified by a viewing and inspection, in homes of this era a renovated basement often means it has been finished into a usable living or recreational space, addressing foundational concerns like moisture control and adding proper flooring, walls, and ceilings.
3. How does the age of the home (1913) affect things?
It indicates classic construction and character, but also means that while the basement is renovated, other major systems (like plumbing, electrical, or the roof) may have been updated over time and should be carefully evaluated to understand the home's current condition.
4. The assessed value seems low compared to the recent sale price. Why?
Municipal assessed value for taxation purposes often lags behind market value and is calculated using a specific formula. The 2022 sale price of $250k is the more accurate reflection of current market value.
5. Who would this property not suit?
It may not suit those seeking a modern, open-concept layout typically found in newer builds, or families requiring multiple bedrooms on a single level, as one-storey homes of this size often have a more compartmentalized floor plan.